General Motors

Business
2:42 am
Tue April 8, 2014

Just How New Is The 'New' GM?

CEO Mary Barra told Congress that she sits at the helm of the new GM. Is the company new and improved? The answer is complicated.
Evan Vucci AP

Originally published on Tue April 8, 2014 8:34 am

During her grilling before Congress last week, General Motors CEO Mary Barra insisted the new General Motors is different and better than the old one.

So as GM begins to fix nearly 2.6 million vehicles for an ignition-switch defect that has been linked to at least 13 deaths, we decided to put that claim to the test.

Exactly how new is the new GM?

NBC's Saturday Night Live answered with a parody version of Barra's explanation:

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Business
5:00 am
Mon January 14, 2013

Return of the Stingray: GM Unveils Bowling Green-Made 2014 Corvette

2014 Stingray Corvette
Credit gm.com

The next generation Corvette is no longer a secret. With much fanfare, General Motors unveiled a revamped Corvette in Detroit Sunday night, the first new version of the iconic sports car in nine years.

"This car is all new from the ground up and it's absolutely the best performance car we know how to engineer and build," said General Motors North America President Mark Reuss. "I will eagerly put this car up against any of the top performance cars in the world. In terms of design, technology, and performance, this car is second to none."

The 2014 model, so new that it shares only two parts with the current model, picks up cues from the 1963 Stingray. It's described as the most powerful standard model ever, but GM promises it will be the most fuel-efficient Corvette. At the unveiling in Detroit, Reuss offered kudos to the Bowling Green plant for bringing the car the life.

"A few weeks ago we traveled to Bowling Green and drove the first cars made at the plant. Their commitment made this Corvette worthy of the Stingray name once again," praised Reuss.

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Financial Problems for Ally's Mortgage Division
10:44 am
Mon May 14, 2012

Mortgage Division Filing Chapter Eleven

The mortgage division of a company which used to be the financing arm of General Motors Company is filing for bankruptcy protection. Ally Financial's mortgage division is known as Rescap.The government-owned lender had reportedly been considering a chapter eleven filing for Rescap for some time.

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